Lindner Sons Now Co-CEOs At American Financial
NU Online News Service, Jan.18, 2:24 p.m. EST?American Financial Group Inc. in Cincinnati announced today that Carl H. Lindner, 85, is stepping down as chief executive and the duties of his post will now be shared by his sons Carl H. Lindner III and S. Craig Lindner.[@@]
The elder Lindner will continue to serve American Financial as chairman. American Financial said the move implements the company's executive succession plan announced in August 2004 to make the sons co-executive officers.
The company also named Keith A. Jensen as chief financial officer, succeeding senior vice president and treasurer Fred J. Runk, who previously announced his plans to retire in March.
S. Craig Lindner, 49, has served as co-president of AFG since 1996 and is also president and a director of Great American Financial Resources Inc., an 82 percent-owned subsidiary, and American Money Management Corporation, a subsidiary that provides investment services to AFG and its affiliates.
Carl H. Lindner III, 51, has served as co-president of AFG since 1996 and is also president of Great American Insurance Company. He has been primarily responsible for AFG's property and casualty insurance operations for over fifteen years.
Keith A. Jensen, an AFG senior vice president, also serves as executive vice president and chief financial officer of Great American Insurance Company. Mr. Jensen, 53, has been with AFG and its subsidiaries since 1997 in various executive capacities. He was a partner with Deloitte & Touche LLP for over eleven years prior to joining AFG.
Through the operations of the Great American Insurance Group, AFG is engaged primarily in property and casualty insurance, focusing on specialized commercial products for businesses, and in the sale of retirement annuities, supplemental insurance and life products.
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